Thais focus on financial discipline to recover from COVID-19 crisis


Thais focus on financial discipline to recover from COVID-19 crisis

“UOB” reveals research results Point out Thais to pay more attention to financial discipline from COVID-19 More than half of the sample groups increased their savings proportion first and increased their investment proportion.

The reporter reported that UOB has released its findings on consumer confidence and financial discipline. It was found that the information was interesting. Thais place more emphasis on financial health during the COVID-19 epidemic and more than the sample from other ASEAN countries. Nearly three quarters or 72% of Thais want to manage Finance is a top priority Than those in Malaysia, Vietnam, Indonesia and Singapore, where 64 percent of Thai respondents said. Changed money management methods and began recording expenses to maintain financial discipline during COVID-19.

Of the millennials, 66% of Thais had the most notable change in financial behavior. Increasing austerity and monitoring costs much more closely during the outbreak, more than three-quarters, or 76 percent of Thai millennials, also use digital platforms to help track their financial status. More efficiency While this trend of expense tracking behavior Also increasing By UOB Bank itself There are four times the number of customers from 2020, with customers taking advantage of the features. That learns individual spending behavior with AI technology and helps customers plan their finances better through the in-site monthly expense summary list for each category. With the function to help customers budget their monthly expenses in advance by themselves. And receive notifications when your spending is close to your budget
The research also found that In addition to changing the financial behavior of Thai people. COVID-19 outbreak It also affects the financial goals as well. More than half or 52% of Thais have changed their financial portfolios by increasing their savings to 40% of the change. This is followed by a fixed deposit, or 39 percent, and an insurance plan, or 36 percent.
In addition, one third of the Thai respondents, or 36 percent, also increased their investment proportion. During the epidemic of COVID-19 as well.

Mr. Yuthachai Tayarachakul, Senior Executive Vice President of Personal Banking, UOB Thailand, said the 2020 ASEAN Consumer Confidence Study shows that Thais are turning the crisis into financial health enhancement opportunities. To be flexible Adaptation during COVID-19 epidemic And able to revive strongly after the outbreak UOB is ready to help clients build sustainable wealth through their know-how, wealth management consulting and a broad range of financial products. For retail customers
For the survey on ASEAN consumer confidence by UOB Made in order to better understand ASEAN consumers. Due to the rapid social and economic changes in this region The sample group in the survey was more than 3,500 people from 5 ASEAN countries. This includes a sample group of 600 Thai people.

“We are ready to open the door to give opportunities for the new generation Let’s be a part of Money and Wealth Plus together. The future that you can choose for yourself. “